Should I Refinance?

A mortgage refinance is when you go get new financing on your home. There are many types of refinance loans. From the conventional fixed rate type to equity lines of credit for things like major purchases or remodeling.

Why Refinance? Some of the top reasons are :

Better interest rates
Balloon payments due
Cash out refinance (where you withdraw equity)
Remodel/Redecorate
Divorce (to buy the other person's share)

Many times a refinance is done with the thinking that all interest is tax deductible, but you should always check with your tax professional before. This is not always the case.

There are many types of mortgage refinance loans available. These include :
1. Interest Only
2. Adjustable Rate Loans
3. Cash Out Refinance (to get cash for other purchases)

Mortgage refinance should not be confused with home equity lines of credit!

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